Richard L. Eberly - 15 Mar 2022 Form 4 Insider Report for CHEMBIO DIAGNOSTICS, INC.

Footnote F1

Each restricted stock unit represents a contingent right to receive one share of common stock.

Footnote F2

These shares were withheld for tax purposes upon the vesting of restricted stock units.

Footnote F3

Reflects disposition of Issuer common stock in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated January 31, 2023 (the "Merger Agreement"), by and among the Issuer, Biosynex SA ("Parent"), and Project Merci Merger Sub, Inc. ("Purchaser"), including the completion on April 26, 2023 of a tender offer to purchase all of the outstanding shares of Issuer common stock at a price of $0.45 per share in cash, without interest (the "Offer Price"), and the consummation of the merger (the "Merger") between the Issuer and Purchaser on April 27, 2023. Pursuant to the Merger Agreement, as of the effective time of the Merger (the "Effective Time"), each outstanding share of Issuer common stock was cancelled in exchange for the right to receive an amount equal to the Offer Price.

Footnote F4

On March 15, 2021, the reporting person was granted 116,129 restricted stock units which vest over three years, with one-third vesting on March 15, 2022, one-third vesting on March 15, 2023, and the remaining one-third vesting on March 15, 2024, subject to continued service through each vesting date.

Footnote F5

On March 16, 2020, the reporting person was granted 233,589 restricted stock units which vest over three years, with one-third vesting as of March 16, 2021; one-third vesting as of March 16, 2022; and one-third vesting as of March 16, 2023.

Footnote F6

On March 11, 2022, the reporting person was granted 432,000 restricted stock units which vest in equal installments on March 11 of each of 2023, 2024 and 2025, subject to continued service through each vesting date.

Footnote F7

Each Company RSU (as defined in the Merger Agreement) that was outstanding as of immediately prior to the Effective Time was cancelled and converted into the right to receive an amount in cash equal to the product of (a) the total number of Shares (as defined the Merger Agreement) issuable in settlement of such Company RSU immediately prior to the Effective Time without regard to vesting multiplied by (b) the Merger Consideration (as defined in the Merger Agreement).

Footnote F8

As of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or the Issuer, each option which had a per share exercise price that is equal to or more than the Offer Price (each, an "Out of the Money Option") that was then outstanding and unexercised as of immediately before the Effective Time was cancelled at the Effective Time without any consideration payable therefor.